Succession in family business: A theoretical approach

Abstract

Succession in family business is considered as a decisive stage for its continuity. It is one of the most studied topics, but only a small proportion of them survive each generational transfer. In developing economies such as Latin America, the generation of knowledge on the subject is significant given the proportion of family business in each country and consequently their economic and social contribution. This bibliographic review of the succession process in family business aims to reconstruct its field of study to encourage the development of new research. The main results include the relationship between succession and strategic planning, family influence and integral management.